Evolution of Web Analytics in the world of AI - Trust Analytics

Building for customer trust in your brand is HARD, it's SLOW and it's TRICKY. In today's world winning on consumer Trust is often what makes the difference between a successful business and a not so successful one. Look back into yourself and try to identify the different brands that you trust, and ask yourself the question "What is it that makes me trust these brands?" The answer to this basic question is equally fundamental and simple, something that most choose to ignore or not notice at all. It's CONSISTENCY. Irrespective of what any business does or sells or provides, it's consistency that's the key. If there is no consistency in the quality of the products sold, or consistency in the outputs the system generates, or consistency in the validity of information provided, then we will automatically withhold handing over our most precious asset, TRUST, to that business. This is the case not just with Businesses but also applies for People, Systems and the Entire Universe. But for simplicity sake let's just stick to the application of Consistency for building Trust in a Business here.

In my previous article I had written about the evolution of Business Models from a Click based model, to a Conversion based one, to the current one that's emerging based on Trust. In that I had also said how difficult it was to measure something like Trust since it's not something that can be quantified. However thankfully that's not the same with consistency as it can be quantified and measured with ease. So our new Analytical mindset for the evolving Trust based business models have to be all centred around measuring consistency.

Trust is positively correlated with Consistency!

Another curious thing that we need to be aware of when talking about Trust, is that it's an evolving Continuous variable that keeps growing over time (provided we keep doing the right things). But that's not the case with Clicks or Conversions. You can't ask what was the Trust yesterday? Or, How many Trusts did we get last month? Asking such questions about Clicks or Conversion were relevant in the old models but not with Trust anymore. Understanding this means modifying the business measurement metrics that are not based on values for a specific period of time but are based on trends that emerge over time. (Phew! keeping that concept simple was hard...)

Now, you may have noticed I haven't talked anything about AI until now. That's because all of this is applicable for any kind of Business Model. With the advent of AI we are now looking at a new era of business where Trust takes the centre stage, literally.

Artificial Intelligence (as I have mentioned in my previous article) is a technology that thrives on Human Trust, and it's a great coincidence that businesses too need consumer trust in order to survive! And since AI solutions are far more customer facing for businesses these days, we finally have a tool that can help channel the trust consumers put into these AI solutions into trust for the company and brand. We just need to identify the best opportunities for implementing AI solutions in the business that can solve customer's need and follow that up by doing a good job at delivering the products and services as always. Doing this right increases Trust in the brand Fast and Easy.

It's easier and quicker to build Trust in your Brand through the proper implementation of AI into Business Models, than without AI

So we now see how AI can empower Trust and how Trust can be measured through Consistency. Measuring and optimising for consistency of your AI tools is an easy way to gain entry into your customers hearts. This is the emergence of what I call TRUST ANALYTICS, and this would define the metrics, reports and business models in the emerging AI era if we are to Build For Trust!

In my next post I shall breakdown the online business to see how we can measure for consistency through an AI driven approach and how that in turn can work to improve the consumer trust in a brand! Stay tuned!

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